Workers Compensation & Workers Comp Insurance

Protects your business if you're sued.

An important part of what you get with workers’ comp is Employer’s Liability. This helps protect your business against lawsuits from your employees or their family members for on-the-job injuries or illnesses.

May give you short-term coverage in other states.

If you have a new or temporary operation in another state, you’ll need to get workers’ comp in that state. Check with your agent, as you may be able to get short-term coverage there to help you in the transition.

You don’t want to be held personally liable.

Without workers’ comp you may be held personally liable for the cost of your employees’ medical care for a work-related injury or illness. And even their wages while they’re out recovering.

Protects you in a lawsuit.

If one of your workers gets hurt on the job and their family decides to sue you, workers’ comp is there to help you with legal fees, loss of earnings and more. Some policies provide more legal coverage for you than others so compare and get the most you can.

Speaking of the law...

There’s one more reason why you need workers’ comp - it’s the law for most businesses. In fact, you may be fined or even jailed for not having it.

Who’s required to get workers’ comp?

Usually if you have at least one employee you need to get workers’ comp. In some states, the business owner (you!) is considered an employee, which means you’ll need it.

Subcontractors, 1099’s.

It’s really important you find out whether your subcontractors are considered employees. Your state and the IRS may have a different definition of “employee.” If you’ve issued your sub, or anyone else, a 1099 they still may be eligible for coverage under your workers’ comp. Talk to your agent or give us a call to learn more.

Safety pays.

Something else that can impact your cost is “credits and debits.” In most states, insurance companies apply these to your premiums. The good news is that you may qualify for a credit, which will reduce your premium. Credits may be available for things like workplace safety programs, even teaching your employees the right way to lift boxes. When you put safety first, your employees will be better off and so will your bottom line.

Quick reporting pays too.

When you immediately report an on-the-job injury you“ll reduce the ultimate cost. That’s because the sooner your employee gets the right medical care, the sooner they get better and get back to work. Another plus to your bottom line.

Network of care.

While the rules in each state vary, many states require your employee to stay in an approved network of caregivers. These folks have the expertise needed to get your workers back on their feet as quickly as possible.

Claims expertise makes all the difference.

How an insurance company handles a claim could impact the life of one of your workers - forever. Is there a comprehensive approach to care? Will your insurance company stand by your employee, and you, for the long run? What about productivity, employee morale? And your future premiums? Now is the time to find out, not when something happens.

How it works.

Your premium is based on an estimated payroll amount at the beginning of the policy term. Audits occur after your policy term. An auditor verifies your actual payroll along with your job classifications either at your place, via email or over the phone.

Real-time reporting.

Find out if your insurance company offers a payment service based on actual payroll. That means you’ll pay as you go and your premiums won’t be based on an estimated amount. This can improve your cash flow, reduce guesswork and make the end of the policy term a snap.

What to look for when you’re looking.

You can buy workers’ comp directly from an insurance company or through an agent. Whichever way you go, make sure the company is reputable and financially secure. Look at their approach to caring for your employees, and your business. Compare policies. Ask about credits for safety programs. Find out if there are pay-as-go premiums to help manage your cash flow.

You have choices for the Employer’s Liability part.

A workers’ comp policy includes Employer’s Liability. If you already have other business liability policies in place, you may choose to select a more modest amount of Employer’s Liability. Ask your agent for options.